Dublin, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The "Virtual Power Plant Market - A Global and Regional Analysis, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The increasing demand for power generation from renewable sources of energy across the globe has propelled the need for virtual power plants. Moreover, there is an increased concern for decentralized power generators in the electricity distribution supply chain to reduce the electricity demand. The growth of the market is likely to be aided by an increasing demand for decentralized power generation, growing demand for renewable sources of energy, and favorable government initiatives to mitigate power outages.
High growth in the coming future is expected to be driven by rising awareness among governments of various countries about the need to mitigate power outages while also making attempts to preserve the environment. The growing awareness in the market concerning the opportunities in renewable energy and battery storage systems has stimulated large-scale investments in the sector over the last decade.
Their ability to participate in energy markets, provide cost savings, and contribute to environmental sustainability aligns with global efforts to transition to cleaner and more resilient energy systems. As the demand for flexible and sustainable energy solutions continues to rise, Virtual power plants play a pivotal role in reshaping the future of power generation and distribution.
Key Market Trends
- Rising investments in the establishment of new virtual power plants
- Consistent transition from centralized to distributed power generation
- Integration of multiple cutting-edge technologies
Key Market Players and Competition Synopsis
Some of the prominent companies in this market are:
- ABB
- Blue Pillar
- Cisco Systems
- Enel X North America.
- Generac Power Systems
- Hitachi
- IBM
- Limejump
- OSIsoft
- Power Analytics
- Robert Bosch
- Schneider Electric
- Siemens
- Sunverge Energy
- Toshiba
Key Questions Answered in this Report:
- What are the main factors driving the demand for virtual power plant market?
- What are the major patents filed by the companies active in the global virtual power plant market?
- What are the strategies adopted by the key companies to gain a competitive edge in virtual power plant industry?
- What is the futuristic outlook for the virtual power plant in terms of growth potential?
- Which end users, technology, and source is expected to lead the market over the forecast period (2023-2033)?
- What could be the impact of growing renewable energy industry on virtual power plant market?
- What is the comparison between types of virtual power plants?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 183 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $1.2 Billion |
| Forecasted Market Value (USD) by 2033 | $12 Billion |
| Compound Annual Growth Rate | 23.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Markets: Industry Outlook
1.1 Trends: Current and Future Impact Assessment
1.1.1 Rising investments in the establishment of new virtual power plants
1.1.2 Consistent transition from centralized to distributed power generation
1.1.3 Integration of multiple cutting-edge technologies
1.2 Supply Chain Overview
1.2.1 Value chain Analysis
1.2.2 Market Map
1.2.3 Pricing Forecast
1.3 R&D Review
1.3.1 Patent Filing Trend by Country, by Company
1.4 Regulatory Landscape
1.5 Stakeholder Analysis
1.5.1 Use Case
1.5.2 End User and buying criteria
1.6 Impact analysis for key global events- covid19, Russia/Ukraine or Middle East crisis
1.7 Comparative analysis of different types of virtual power plants
1.8 Case studies of virtual power plants
1.9 Regulatory and market environment influencing the development of Virtual Power Plants
1.10 Market Dynamics Overview
2 Application
2.1 Application Segmentation
2.2 Application Summary
2.3 Global Virtual Power Plant Market (by End Users)
2.3.1 Industrial
2.3.2 Commercial
2.3.3 Residential
3 Product
3.1 Product Segmentation
3.2 Product Summary
3.3 Global Virtual Power Plant Market (by Technology)
3.3.1 Distribution Generation
3.3.2 Demand Response
3.3.2 Mixed Asset
3.4 Global Virtual Power Plant Market (by Source)
3.3.1 Renewable Energy
3.3.1.1 Solar
3.3.1.2 Wind
3.3.1.3 Hydro
3.3.2 Energy Storage Systems
3.3.3 Others
4 Region
5. Markets - Competitive Landscape & Company Profiles
5.1 Competitive Landscape
5.2 Company Profiles
- ABB
- Blue Pillar
- Cisco Systems
- Enel X North America.
- Generac Power Systems
- Hitachi
- IBM
- Limejump
- OSIsoft
- Power Analytics
- Robert Bosch
- Schneider Electric
- Siemens
- Sunverge Energy
- Toshiba
6. Growth Opportunities & Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/6g21fx
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